Since late 2004, AirAsia has undertaken an ambitious modernization and expansion of its fleet to 120 aircraft commander in the European manufacturer Airbus . It has a Thai subsidiary and a subsidiary in Indonesia . The Thai subsidiary is known as Thai Air Asia and uses the IATA code FD . The Indonesian subsidiary called Indonesia AirAsia (formerly Awair) and using the IATA code QZ . The company was named best low-cost airline in the world by the 2010 “World Airline Awards,” based on a survey conducted by Skytrax with more than 17.9 million passengers . More